I have received so many questions over the years regarding the safety of certain investments so I would like to share with you about "safe" and "no risk" investments. I would like to define what those terms mean and how they apply to financial planning. Customers often believe investment choices are supposed to become more conservative and less risky as they approach retirement. They don't always know how to evaluate an investment's risk.
It's a good idea for everyone to be vigilant because these terms are misused quite often. They are not interchangeable. This would not be a concern except that the consequences of these terms can drastically affect your retirement nest egg. Let's define how these terms might be used by a financial advisor, broker, or investment advisor.
As a general rule, investment products offered by these people always carry the possibility of you losing a large portion of your retirement nest egg (i.e. stock market crashes in 2003 and 2008). It is often impossible for them to guarantee that you will never lose any of your money. So instead, they use the terms aggressive, moderate, or conservative to describe the levels of risk. When you get to retirement age, some will recommend you shift your investment to more moderate or conservative investments to mitigate the risk level but they cannot eliminate all risk.
Our recommendation is that when you are at or near retirement, you owe it to yourself to have your retirement nest egg reviewed by a competent advisor who offers "no risk" investments. S2S Silver Services offers this service at no cost or obligation. It is critical for you to understand that the way your retirement nest egg was invested during your forty plus working years may not be how to proceed in retirement.
"From the very first appointment, we knew we were in good hands with J. Elvin Dashiell. He listened to our concerns and answered our questions in great detail, but in a way we could understand. We never felt any pressure to act on his advice, and indeed were most impressed when he recommended not to change several of our investments. We trust and highly recommend Mr. Dashiell because of the integrity and honesty he displayed in all of our insurance and investment transactions." Margaret and Terry Fant, Virginia Beach